Award

GP Indemnity: Corporate Finance and Non-Life Actuarial Advice

DEPARTMENT OF HEALTH

This public procurement record has 1 release in its history.

Award

09 Feb 2018 at 09:11

Award Notice
Summary of the contracting process

The procurement process involves the Department of Health seeking a corporate finance adviser for the project titled "GP Indemnity: Corporate Finance and Non-Life Actuarial Advice." This project, classified under the Business services industry, is based in London, England, and encompasses a selective procurement method as a call-off from a framework agreement. The contract has an active status with an award value of £975,238 and covers a contract period from 23 January 2018 until 31 December 2018. The tender period closed on 8 December 2017, indicating a structured timeline for various phases, including pre-due diligence and negotiation, extending from January to November 2018.

This tender presents significant opportunities for firms specialising in corporate finance advisory services, particularly those with expertise in actuarial analysis within the clinical negligence market. Companies with a strong background in non-life actuarial practices, knowledge of Solvency II regulations, and experience in government financial transactions would be particularly well-positioned to compete for this work. The successful completion of this project is expected to inform crucial financial strategies that ensure a secure operating environment for medical practitioners and their patients, making it a valuable engagement for capable service providers.

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Notice Information

Notice Title

GP Indemnity: Corporate Finance and Non-Life Actuarial Advice

Notice Description

The Authority requires a third party corporate finance adviser to provide us with an actuarial analysis on each participating MDO's assets and liabilities, to provide input and advice into the commercial structuring of the Existing Liabilities Scheme (ELS) - considering the potential impact of regulation on the MDO's and how they may respond; and to assist with the MDO negotiation strategy and negotiations. We expect that the actuarial advice will be provided by the adviser themselves as opposed to using third party partner firms. The project will cover: Phase 1 - Pre-Due Diligence - regulation (January 2018) Phase 2 - Actuarial Due Diligence on Medical Defence Organisation Balance Sheets (February 2018 to April 2018) Phase 3 - Transaction Structuring (May 2018 - June 2018) Phase 4 - Negotiation (July 2018 - September 2018) Phase 5 - Commercial Due Diligence (October 2018 - November 2018) This scope of works will provide appropriate expertise from a corporate finance adviser with internal actuarial expertise in support of the project's objectives. With the benefit of significant and detailed due diligence allowing us to obtain a full understanding of MDO's financial positions, we will be able to properly assess the level of assets that could be obtained versus the pace of regulation implementation. We need to ensure an appropriate balance which delivers value for money, does not contravene state aid principles and above all creates a safe, secure and affordable future operating environment for medical practitioners and patients. Therefore the skills required to deliver these outputs are: - * A good understanding and appreciation of the clinical negligence market in the UK. * A strong and industry recognised non-life actuarial practice. * Excellent knowledge of the solvency II regulation, its impact and its implementation. * Prior financial transaction experience of working with government. * An excellent understanding of government accounting. * Evidence of inputting into negotiation strategies. * Demonstrable creativity in structuring of solutions.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-90b1f0e4-9b10-42aa-8a8b-927d9c27c5f9
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/9fed2b8b-f103-4652-80ad-e4e9638d73d6
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Framework
Procurement Category
Services
Procurement Method
Selective
Procurement Method Details
Call-off from a framework agreement
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

79 - Business services: law, marketing, consulting, recruitment, printing and security

CPV Codes

79000000 - Business services: law, marketing, consulting, recruitment, printing and security

Notice Value(s)

Tender Value
£975,238 £500K-£1M
Lots Value
Not specified
Awards Value
£975,238 £500K-£1M
Contracts Value
Not specified

Notice Dates

Publication Date
9 Feb 20188 years ago
Submission Deadline
8 Dec 2017Expired
Future Notice Date
Not specified
Award Date
18 Jan 20188 years ago
Contract Period
23 Jan 2018 - 31 Dec 2018 6-12 months
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Not Specified
Awards Status
Active
Contracts Status
Not Specified

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
DEPARTMENT OF HEALTH
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
LONDON
Postcode
SW1H 0EU
Post Town
South West London
Country
England
Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI3 Inner London - West
Small Region (ITL 3)
TLI35 Westminster and City of London
Delivery Location
Not specified
Local Authority
Westminster
Electoral Ward
St James's
Westminster Constituency
Cities of London and Westminster

Supplier Information

Number of Suppliers
1
Supplier Name

PRICEWATERHOUSE COOPERS

Further Information

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

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The Open Contracting Data Standard (OCDS) is a framework designed to increase transparency and access to public procurement data in the public sector. It is widely used by governments and organisations worldwide to report on procurement processes and contracts. 

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